Chelsea Mixed-Use For Sale By Owner

Description:

Block & Lot: 0764-0074 / Zoning: C1-6A (Resi Eqiv. R7A)
Lot Dimensions: 19.37 x 73.5 Ft. / Lot Size: 1,424 Sq. Ft.
Building Dimensions: 19.37 x 73.5 Ft. / First Floor Built Full
Existing Building Footage: 2,850 square feet
Stories: 3 (Walk-Up) / Units: 2 (1 Residential & 1 Commercial)
FAR: 5.00 / Buildable Sq Ft. – 7,120 / Air Rights – 4,270
Taxes (23/24) - $29,987

Located in Chelsea near the meatpacking district on the east side of 8th Avenue between West 15th Street and West 14th Street, one block from Google headquarters. Property is primarily a 2-Family with One Store on the Ground Floor and a Residential duplex above. Built in 1901. Perfect for user investor. Currently 1 tenant, the Commercial unit on the first floor. The Residential duplex on floors 2 and 3 is currently vacant..
Commercial Unit – Pay-O-Matic Store – Monthly Rent $16,239 / Annual $194,876 with 3% annual escalations – Lease Expiration 11/13/2029 plus 5-year option renewal
Residential Unit – Delivered Vacant, potential monthly Rent $14,000 / Annually $168,000
Total monthly potential income $30,239/ Total potential annual income $362,868. Total Annual Operating Expenses – ($39,642)
Potential NOI: $ 323,226 Annually

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